World Liberty's DeFi Platform Faces Centralized Control Criticisms as It Launches Mainstream Products

World Liberty Financial, a cryptocurrency platform backed by members of the Trump family, is set to introduce a stablecoin-linked debit card and a retail application designed to merge peer-to-peer (P2P) payments with trading features. Co-founder Zak Folkman announced the developments during Korea Blockchain Week 2025, emphasizing the project’s aim to integrate its USD1 stablecoin into everyday transactions via Apple Pay. The debit card and app are positioned as tools to drive mainstream adoption of digital assets by bridging crypto and traditional finance Trump Family Backed World Liberty Financial Eyes Debit Card^[1].

The retail application, described as a “Venmo meets Robinhood” platform, will enable users to conduct P2P transfers while engaging in trading activities. Folkman highlighted that the app’s design prioritizes user-friendliness and accessibility, aligning with the project’s broader goal of creating a “financial lifestyle powerhouse.” The integration with Apple Pay will allow users to spend USD1—a stablecoin pegged 1:1 to the U.S. dollar and backed by cash, bank deposits, and short-term U.S. government securities—at any merchant accepting the payment method. This move underscores World Liberty Financial’s strategy to embed stablecoins into daily commerce WLFI To Launch USD1 Debit Card Paired With Venmo-Robinhood …^[2].

A key development underpinning the project’s expansion is a memorandum of understanding (MOU) with South Korean exchange Bithumb. While specific terms of the partnership remain undisclosed, the collaboration is expected to facilitate World Liberty Financial’s entry into the $10 billion South Korean crypto market. Bithumb’s expertise in local compliance and user behavior will complement WLFI’s ambitions to scale in Asia, a region with robust crypto adoption despite regulatory challenges. Folkman noted that the partnership could accelerate the project’s integration into forward-thinking digital finance ecosystems Trump’s World Liberty Financial to roll out Robinhood-like retail …^[3].

Financial metrics highlight the project’s current trajectory. Since its launch in September 2024, World Liberty Financial has raised over $550 million and generated $400 million in fees. However, its native token, WLFI, has faced volatility, trading at $0.2062 as of September 23, 2025, down 10% in the past 24 hours. The token’s 24-hour trading volume stands at approximately $1 billion. Folkman acknowledged short-term price fluctuations but emphasized long-term growth potential tied to product expansion, stating, “The focus is on building and developing the product suite and USD1.” Analysts suggest that increased use cases, such as the debit card and retail app, could drive demand for WLFI by expanding its utility Trump-Backed WLFI Set to Shake Up Finance With Upcoming …^[4].

Critics have raised concerns about the project’s centralized governance model, noting that decision-making remains heavily controlled despite WLFI’s DeFi branding. Security concerns also linger, as Folkman previously co-founded Dough Finance, a DeFi protocol that suffered a $2 million hack. While WLFI markets itself as audited and transparent, skeptics argue that its governance tokens are not publicly tradeable, complicating decentralization claims. Additionally, reports of potential wallet blacklists and token volatility have sparked unease among users Trump’s World Liberty Financial to roll out Robinhood-like retail …^[3].

The timing of WLFI’s consumer product launch coincides with broader economic shifts. In the U.S., inflationary pressures and sluggish job growth have intensified demand for alternative assets, with gold surging over 90% in 2025. Stablecoins like USD1 may appeal to investors seeking stability amid macroeconomic uncertainty. Folkman reiterated that the project’s stablecoin will undergo full audits to build credibility, positioning it as a viable alternative to fiat currency for both individual and institutional users Unveiling the Future Kings of Cryptocurrency in 2025^[5].

World Liberty Financial’s political backing and institutional support further distinguish it from typical crypto ventures. The project has attracted high-profile investors, including Tron founder Justin Sun, and leverages the Trump family’s media influence to amplify its reach. However, this alignment introduces partisanship risks in a sector traditionally marketed as neutral and borderless. Despite these challenges, WLFI’s integration of Apple Pay, strategic partnerships, and stablecoin ecosystem aim to redefine how digital assets interact with mainstream finance Unveiling the Future Kings of Cryptocurrency in 2025^[5].